Working in a wholesale food business, means that you’re working on a big scale industry. And in a big scale FMCG industry. Inventory plays an essential role for a successful business model. Without an optimised and efficient inventory. It not just causes a fuss in your business but can earn your food wholesale business a great loss. Here’re some great practices food an efficient smooth inventory for your wholesale food business:
Expiry Management
FIFO
Expiry management is one of the essential practices to keep in mind in a wholesale food business. Food always has an expiry. Moreover, as per the laws and safety standards, you can never sell expired food. If this happens, it’s a complete loss for a wholesaler.
In your IMS (inventory management system), you can sort the products as per their expiries. A rule of thumb is to follow the FIFO model. FIFO refers to the First in and First out model. It means the products which are placed first will be checked out first in the stock.
It’ll help you to sell the products before their expiry arrives. And can save you from a great loss. Especially if you’re a wholesale food business owner.
Traces of the Stock in your Wholesale Food Business
Tracing of products in IMS
Keeping an eye on the traces of your stock can make your business efficient. It refers to tracking of the stock e.g, where it came from, where it goes, time, date and slot. It’s not associated with loss or profit. But, it can help you manage your food business, and give you analytics of your products.
You can enable the traceability in your IMS food business. If your IMS supports traceability, it’ll allow you to keep a record of every activity related to your products and stock. It’ll include:
- Record of check-in
- Record of check-out
- Stock management
- Expiry management
Shelf Management
Shelf management refers to arranging your stock on racks. So, you can fetch them when required. Handling this practice is crucial for efficient and smooth flow. You don’t want to mess up your whole stock when fetching.
Therefore, you should arrange your stock in order wise. The order can be of your choice. Here are most commonly arranging orders:
- Name wise.
- Category wise.
- Price wise.
- Most selling wise.
However, you can do the sort of your choice. The main purpose of this sorting is so you can fetch the product instantly when required. Then, you can integrate the sorting order with your ERP and IMS.
Use a Good Quality IMS Solution for your Wholesale Food Business
IMS for food and beverage business
For good inventory management, you need a good IMS solution. And JustSell is one of them. It’s not just an IMS, but a complete stock management for a wholesale food seller. It features:
- Pre-built branded app.
- Custom Ecommerce mobile app template
- Built-in hosting.
- ERP integrated.
- Automated IMS.
- Company maintained the system.
- Integrated customer portal.
Here’s a feature and price comparison of JustSell with other platforms:
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